Uniti Group (NASDAQ:UNIT) Trading Down 6.3% – Here’s What Happened

Shares of Uniti Group Inc. (NASDAQ:UNIT) fell 6.3% during trading on Tuesday . The company traded as low as $5.51 and last traded at $5.46. 861,549 shares were traded during trading, a decline of 48% from the average session volume of 1,663,884 shares. The stock had previously closed at $5.82.

Analyst Ratings Changes

Separately, Royal Bank of Canada boosted their target price on shares of Uniti Group from $5.50 to $6.00 and gave the company a “sector perform” rating in a report on Monday, December 23rd.

Uniti Group Trading Down 1.1 %

The company has a market cap of $1.32 billion, a P/E ratio of 13.22 and a beta of 1.31. The stock’s 50 day moving average is $5.57 and its 200-day moving average is $5.38.

Hedge Funds Weigh In On Uniti Group

A number of hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its stake in Uniti Group by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,937,013 shares of the real estate investment trust’s stock worth $43,654,000 after purchasing an additional 62,377 shares in the last quarter. Geode Capital Management LLC boosted its stake in Uniti Group by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 6,317,569 shares of the real estate investment trust’s stock worth $34,754,000 after purchasing an additional 101,702 shares in the last quarter. Apollo Management Holdings L.P. lifted its stake in Uniti Group by 4.6% during the 4th quarter. Apollo Management Holdings L.P. now owns 5,239,917 shares of the real estate investment trust’s stock valued at $28,820,000 after acquiring an additional 231,977 shares during the period. Northern Trust Corp lifted its stake in Uniti Group by 12.0% during the 4th quarter. Northern Trust Corp now owns 2,748,895 shares of the real estate investment trust’s stock valued at $15,119,000 after acquiring an additional 295,104 shares during the period. Finally, King Street Capital Management L.P. lifted its stake in Uniti Group by 66.7% during the 4th quarter. King Street Capital Management L.P. now owns 2,600,000 shares of the real estate investment trust’s stock valued at $14,300,000 after acquiring an additional 1,040,000 shares during the period. Institutional investors own 87.51% of the company’s stock.

Uniti Group Company Profile

Uniti Group, Inc is a real estate investment trust company, which engages in the acquisition, construction, and leasing of properties. It operates through the following business segments: Uniti Leasing, Uniti Fiber, and Corporate. The Uniti Leasing segment involves mission-critical communications assets on exclusive or shared-tenant basis, and dark fiber network.